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Germany Starts Unloading Seized BTC

The German government holds $3 billion in seized BTC but is starting to sell it.
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Jun 20, 2024 • 1 min read

In the last 24 hours, the German government sold over $195M of Bitcoin seized from a movie piracy website.

What's the scoop?

  • Continued Holdings and Future Sales: Despite these sales, German authorities still hold ~$3.05B Bitcoin. The government also transferred $65M of Bitcoin likely to exchange deposits, suggesting more dumps to come.
  • Historical Context: In January, nearly 50,000 BTC of Bitcoin was seized from Movie2k.to operators and transferred to the German Federal Criminal Police Office.

Bankless Take

Even with massive buys from MicroStrategy, global governments are still massive holders of BTC and can move markets when they decide to cash out seized assets. Germany's selling comes at a tough time for crypto markets with spirits generally low after a brutal June. While only the German government knows its timeline for unloading its excess Bitcoin, remember that, like all things, this too will come to an end.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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